ABSTRACT Climate change poses critical threats to environmental and economic stability, driven primarily by fossil fuel dependency and outdated industrial technologies. This study investigates the determinants of carbon emissions in ASEAN, a rapidly industrializing region with acute energy demands and environmental pressures, focusing on the efficacy of climate technologies, environmental regulations, green energy, and industrialization in mitigating CO 2 emissions from 1995 to 2022. Employing second‐generation econometric techniques, specifically the Common Correlated Effects Mean Group (CCEMG) estimator with CuP‐FM and CuP‐BC robustness tests, we examine how these factors interact with economic growth and urbanization. Our findings reveal that advancements in climate technology, stringent environmental regulations, industrial modernization, and green energy expansion significantly reduce carbon emissions, whereas economic growth and urbanization remain emission‐intensive. These results provide targeted policy insights for balancing industrial development with environmental sustainability, offering a region‐specific roadmap for achieving post‐COP28 Sustainable Development Goals in emerging economies.
Shaikh et al. (Mon,) studied this question.